New Horizon Fund 2, a fund of New Horizon Capital Co., Ltd. completed the acquisition of 66.67% stake in Magmag, Inc.
March 30, 2014
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New Horizon Fund 2, a fund of New Horizon Capital Co., Ltd. agreed to acquire 66.67% stake in Mag2 Co., Ltd. for approximately ¥1 billion on March 18, 2014. As reported, New Horizon will acquire existing shares of Mag2 along with subscribing to the capital increase by 3rd party allocation to be carried out by Mag2 Co. The transaction will result in NHC acquiring 2/3 of the voting rights of Mag2. NHC will send external Directors to Mag2 and will also acquire the business rights of Mag2. The transaction is expected to close on March 24, 2014.
New Horizon Fund 2, a fund of New Horizon Capital Co., Ltd. completed the acquisition of 66.67% stake in Mag2 Co., Ltd. in March 2014.
Magmag Inc operates platform business, media advertising business and other businesses. The platform business is centered on the mail magazine distribution platform. Its main services include paid e-mail newsletters, free e-mail newsletters, live distribution services and the content platform mine. The media advertising business operates web media such as MAG2 NEWS, MONEY VOICE, TRiP EDiTOR, by them, and Web media contents, advertising space sales service for e-mail magazine content. Other businesses include event planning and management.